Oaktree Capital are already getting the ball rolling on a takeover of Inter Milan from Suning starting Wednesday.

This according to today’s print edition of Milan-based newspaper Gazzetta dello Sport, via FCInterNews.

The time is now at hand. This week, Oaktree could already begin the process of taking over Inter from Suning.

Today is, technically speaking, the deadline for Suning to repay their debt to the US-based fund.

Suning owe around 380 million to Oaktree. That is the total amount including both the 275 million loan from the spring of 2021, and all compounded interest.

Should the current Inter owners default on repayment, then their shares would pass into the hands of Oaktree.

Suning had been hoping to refinance their debt to Oaktree.

The Nerazzurri owners have been in talks with another US-based fund, PIMCO, on a new loan reportedly worth around 430 million.

However, those talks collapsed a few days ago. This has left Suning with few options to maintain control of Inter.

Oaktree Capital Ready To Complete Takeover Of Inter Milan From Suning

Whilst today is technically the due date for the loan, it is also a public holiday in Luxembourg.

That is the country where the holding company through which Suning owns their shares in Inter is located.

Therefore, tomorrow will be the actual day by which Suning must repay their debt to Oaktree.

And, should the current Inter owners default – as now looks inevitable – then tomorrow will be the day that the US fund can make it official that they plan to become the new owners of Inter.

Oaktree will have the right to repossess Suning’s shares unless the Nerazzurri owners pay back their debt in full.

And the US fund will officially declare their intent to do exactly that.

Then, on Wednesday, Oaktree will formally begin the process of taking Suning’s place at the top.

This process will including electing a new board of directors and naming a new President. It should take around three weeks.